portefeuille (98.38)

KAZ:LN

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KAZ is the ticker of Kazakhmys in London trading (KAZ:LN) and that of BMB Munai on NYSE Amex (KAZ:US). Whereas the latter company is rather obscure, the former is a component of the FTSE 100 and entirely non-obscure.

March 17 (Bloomberg) -- United Co. Rusal, the world’s largest aluminum producer, is considering selling more than $500 million of ruble bonds to pay down bank debt and has offers from Russian banks to manage the sale.

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Rusal, controlled by billionaire Oleg Deripaska, completed Russia’s biggest corporate restructuring last year and became the first Russian company to list in Hong Kong. The transactions cut Rusal’s debt to $12.9 billion from about $17 billion and tied most of the producer’s spending to repayment of borrowings.